Nakheel has awarded three contracts worth AED563m ($153m), for construction projects at its Al Furjan and International City communities in Dubai, UAE.
Of the contracts, two are for the construction of 401 villas and terraced houses at Al Furjan community.
Ginco General Contracting has secured the first contract, covering 249 homes and valued at AED310.6m ($84.5m).
United Engineering Construction won the second deal to construct 152 homes, worth AED215.4m ($58.6m).
Construction is expected to be completed in 18 months under both contracts.
Nakheel also awarded a AED36.8m ($10m) contract to Metac General Contracting Company to construct a new community retail centre at International City.
Construction of the 79,000ft² shopping and dining facility is anticipated to take 12 months to complete.
The community centre will house 24 shops and six restaurants and coffee shops.
Nakheel noted that two-thirds of the available leasing space is already booked and the facility will serve residents in International City and Warsan Village, the company’s new gated community of 940 town houses.
Dubai-based Nakheel develops projects that span a range of sectors, including residential, commercial, retail and leisure.
The company’s Dubai portfolio includes such large -scale projects as Palm Jumeirah, The World and Deira Islands.
Nakheel’s retail developments include Dragon Mart, Ibn Battuta Mall, Nakheel Mall and Hotel and other hotels at Palm Jumeirah.
The combined projects span about 14,000ha and provide homes for more than 130,000 people.
Image: Plans include construction of 401 villas and terraced houses at Al Furjan community. Photo: courtesy of Nakheel.